07 March 2012 01:18 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil's domestic sales of industrial chemicals in January increased by 8.71% year on year, mainly as a result of stronger demand, chemical industry association Abiquim said on Tuesday.
Products with greater demand included organic chemical products, fertilizers, basic petrochemical products, thermoplastic resins, among others, Abiquim added.
Compared with December, Brazil’s domestic sales in January increased 22.10%.
Domestic production of industrial chemicals in January rose by 4.53% year on year and by 15.94% month on month, according to Abiquim.
Brazil’s chemical industry ran at an average of 86% of capacity in January, compared with 81% of capacity in the same period of 2011, Abiquim said.
In January, domestic prices of chemicals increased by 8.77% year on year, while prices dropped by 2.14% in January from December 2011, Abiquim added.
According to Abiquim’s economy and statistics technical director Fatima Giovanna Coviello, results for January were better than expected and the scenario is positive for February (compared with the year-earlier period) because production last year was affected energy issues in Brazil’s northeast in the first months of 2011.
However, Coviello said that the domestic industry has been losing strength compared with imported products because the price of natural gas - used as feedstock - in Brazil has been increasing, while prices in the international market have been falling.
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